HDB Issues Rated Fixed Rate Notes
HDB Issues Rated Fixed Rate Notes
Published Date: 10 Aug 2016
The Housing & Development Board ("HDB") has issued S$700 million, 7-year Fixed Rate Notes (the “Notes”) under its S$32 billion Multicurrency Medium Term Note ("MTN") Programme.
2 The Notes have a coupon of 1.910% per annum payable semi-annually in arrear. The Notes were issued on 10 August 2016 and will mature on 10 August 2023. The Notes are rated Aaa by Moody’s Investors Service.
3 The Notes are in denominations of S$250,000 and were offered by way of placement to investors who fall within Sections 274 and/or 275 of the Securities and Futures Act, Chapter 289 of Singapore. Approval in principle for the listing of the Notes on the Singapore Exchange Securities Trading Limited (SGX-ST) has been obtained. Admission of the Notes to the Official List of the SGX-ST is not to be taken as an indication of the merits of HDB, its subsidiaries or the Notes. The Notes are cleared through The Central Depository (Pte) Limited.
4 The Joint Lead Managers are DBS Bank Ltd., Maybank Kim Eng Securities Pte. Ltd., Oversea-Chinese Banking Corporation Limited, United Overseas Bank Limited and The Hongkong and Shanghai Banking Corporation Limited, Singapore Branch.
5 Under HDB's MTN programme, HDB may from time to time, issue bonds (or notes) to finance its development programmes and working capital requirements as well as to refinance the existing borrowings.
6 HDB was set up as a statutory board on 1 February 1960. HDB houses over 80% of Singapore's resident population, with more than 9 in 10 HDB dwellers owning the flats they live in. This has made Singapore one of the highest home ownership nations in the world. Providing affordable and quality housing, creating vibrant and sustainable towns, and promoting active and cohesive communities, will remain the focus for HDB.
NOT FOR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OR TO U.S. PERSONS
This announcement is not an offer for sale of securities in the United States. The Notes have not been and will not be registered under the U.S. Securities Act of 1933 (as amended), and may not be offered or sold in the United States or to U.S. persons absent registration under, or an applicable exemption from, the registration requirements of the U.S. securities laws. No public offering of securities is being made in the United States or in any other jurisdiction where such an offering is restricted or prohibited. A rating is not a recommendation to buy, sell or hold any securities and may be subject to suspension, reduction or withdrawal at any time by the rating agencies.
- wong chee tat :)
Showing posts with label Maybank Kim Eng. Show all posts
Showing posts with label Maybank Kim Eng. Show all posts
Sunday, October 30, 2016
Wednesday, March 26, 2014
HDB Issues Fixed Rate Notes
HDB Issues Fixed Rate Notes
Date issued : 26 Mar 2014
The Housing and Development Board ("HDB") has issued S$750 million, 7-year Fixed Rate Notes (the “Notes”) under its S$22 billion Multicurrency Medium Term Note ("MTN") Programme.
2The Notes have a coupon of 3.008% per annum payable semi-annually in arrear. The Notes were issued on 26 March 2014 and will mature on 26 March 2021.
3The Notes are in denominations of S$250,000 and were offered by way of placement to investors who fall within Sections 274 and/or 275 of the Securities and Futures Act, Chapter 289 of Singapore. Approval in principle for the listing of the Notes on the Singapore Exchange Securities Trading Limited (SGX-ST) has been obtained. Admission of the Notes to the Official List of the SGX-ST is not to be taken as an indication of the merits of HDB, its subsidiaries or the Notes. The Notes are cleared through The Central Depository (Pte) Limited.
4The Joint Lead Managers are Australia and New Zealand Banking Group Limited, CIMB Bank Berhad, Deutsche Bank AG, Singapore Branch, Maybank Kim Eng Securities Pte. Ltd. and Standard Chartered Bank.
5Under HDB's MTN programme, HDB may from time to time, issue bonds (or notes) to finance its development programmes and working capital requirements as well as to refinance the existing borrowings.
6HDB was set up as a statutory board on 1 February 1960. HDB houses over 80% of Singapore's resident population and enables more than nine out of ten of them to be homeowners. This has made Singapore one of the highest home ownership nations in the world. The provision of quality housing and related services, and the renewal of the older HDB estates, will remain the focus for HDB.
NOT FOR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OR TO U.S. PERSONS
This announcement is not an offer for sale of securities in the United States. The Notes have not been and will not be registered under the U.S. Securities Act of 1933 (as amended), and may not be offered or sold in the United States or to U.S. persons absent registration under, or an applicable exemption from, the registration requirements of the U.S. securities laws. No public offering of securities is being made in the United States or in any other jurisdiction where such an offering is restricted or prohibited.
- wong chee tat :)
- wong chee tat :)
Date issued : 26 Mar 2014
The Housing and Development Board ("HDB") has issued S$750 million, 7-year Fixed Rate Notes (the “Notes”) under its S$22 billion Multicurrency Medium Term Note ("MTN") Programme.
2The Notes have a coupon of 3.008% per annum payable semi-annually in arrear. The Notes were issued on 26 March 2014 and will mature on 26 March 2021.
3The Notes are in denominations of S$250,000 and were offered by way of placement to investors who fall within Sections 274 and/or 275 of the Securities and Futures Act, Chapter 289 of Singapore. Approval in principle for the listing of the Notes on the Singapore Exchange Securities Trading Limited (SGX-ST) has been obtained. Admission of the Notes to the Official List of the SGX-ST is not to be taken as an indication of the merits of HDB, its subsidiaries or the Notes. The Notes are cleared through The Central Depository (Pte) Limited.
4The Joint Lead Managers are Australia and New Zealand Banking Group Limited, CIMB Bank Berhad, Deutsche Bank AG, Singapore Branch, Maybank Kim Eng Securities Pte. Ltd. and Standard Chartered Bank.
5Under HDB's MTN programme, HDB may from time to time, issue bonds (or notes) to finance its development programmes and working capital requirements as well as to refinance the existing borrowings.
6HDB was set up as a statutory board on 1 February 1960. HDB houses over 80% of Singapore's resident population and enables more than nine out of ten of them to be homeowners. This has made Singapore one of the highest home ownership nations in the world. The provision of quality housing and related services, and the renewal of the older HDB estates, will remain the focus for HDB.
NOT FOR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OR TO U.S. PERSONS
This announcement is not an offer for sale of securities in the United States. The Notes have not been and will not be registered under the U.S. Securities Act of 1933 (as amended), and may not be offered or sold in the United States or to U.S. persons absent registration under, or an applicable exemption from, the registration requirements of the U.S. securities laws. No public offering of securities is being made in the United States or in any other jurisdiction where such an offering is restricted or prohibited.
- wong chee tat :)
- wong chee tat :)
Wednesday, May 1, 2013
Remisiers scrambling to clear new exam
Remisiers scrambling to clear new exam
Goh Eng Yeow
The Straits Times
Wednesday, May 01, 2013
Professional share dealers are racing against the clock to pass a crucial new examination, imposed by the authorities, by a June 30 deadline.
They need to pass the exam in order to continue to serve clients seeking complex financial products such as covered warrants and exchange-traded funds.
Many are worried that their livelihood will be undermined if they fail to make the grade by the deadline.
If they do not pass the exam in time, they may have to give up serving valuable clients who want to trade such products in addition to the usual shares listed on the Singapore Exchange.
These complex products are known as specified investment products (SIPs).
Remisiers are self-employed agents attached to broking houses who get a 40 per cent share of the commission levied on the trades executed by their clients.
So far, no data is available on the number of remisiers, or trading representatives as they are known in the business, who have passed the Capital Markets and Financial Advisory Services Module 6A examination.
The exam was introduced by the Monetary Authority of Singapore (MAS) last year to raise competency standards in the stockbroking industry.
One reason for the move was that many unsophisticated investors were burnt by complex investment products during the global financial crisis.
The consensus among industry insiders is that as many as half of the 4,000-strong sales force of dealers and remisiers serving investors in the stock market may not have cleared the hurdle yet.
The confusion over what might happen after the June 30 deadline is compounded by conflicting notifications sent out by the various brokerages to their remisiers.
One brokerage apparently told remisiers who have not passed the exam that if their clients trade SIPs on the Internet, they may not get the brokerage fee for the transactions. But they would still be liable for any losses incurred by the clients on the trades.
The remisiers also face the risk of losing clients trading SIPs who may be re-assigned to dealers who have passed the exam.
Amid the confusion, remisiers are up in arms over what they perceive as an attempt by some brokerages to capitalise on their plight. Mr Jimmy Ho, president of the Society of Remisiers (Singapore), said: "For any broking house to force a remisier to transfer a client to someone else because he has not passed an exam is morally and contractually wrong. These clients were sourced, nurtured and brought into the firm by the remisier."
Older remisiers, who have not taken exams for years, are aggrieved. "They are driving us out. They want new blood in the business and we cannot pass the exam. This is killing two birds with one stone," said remisier Jan Lam, 55.
But some brokerage bosses told The Straits Times they are working on an industry-wide solution to tackle the challenges thrown up by the new MAS requirement.
UOB Kay Hian senior executive director Esmond Choo said: "The industry is looking to resolve the problem, like setting up a central desk to answer clients' queries relating to SIP trades."
Issues such as the compensation a remisier may get from his clients' SIP trades even though he may not have passed the exam are also being thrashed out.
"There will be discussions with various parties, including the regulators," he said.
CIMB Securities chief executive Carol Fong also allayed the fears of her affected remisiers.
She said: "No decision has been made on client ownership and commission sharing. In making the decision, we will engage them on their views and regulatory position, after we have discussions with other industry participants.
At Maybank Kim Eng, chief executive Tan Pei-San said that while remisiers who have not passed Module 6A by the stipulated date would not get commissions from their clients' SIP trades, they will not be required to bear the risk for such trades.
engyeow@sph.com.sg
- wong chee tat :)
Goh Eng Yeow
The Straits Times
Wednesday, May 01, 2013
Professional share dealers are racing against the clock to pass a crucial new examination, imposed by the authorities, by a June 30 deadline.
They need to pass the exam in order to continue to serve clients seeking complex financial products such as covered warrants and exchange-traded funds.
Many are worried that their livelihood will be undermined if they fail to make the grade by the deadline.
If they do not pass the exam in time, they may have to give up serving valuable clients who want to trade such products in addition to the usual shares listed on the Singapore Exchange.
These complex products are known as specified investment products (SIPs).
Remisiers are self-employed agents attached to broking houses who get a 40 per cent share of the commission levied on the trades executed by their clients.
So far, no data is available on the number of remisiers, or trading representatives as they are known in the business, who have passed the Capital Markets and Financial Advisory Services Module 6A examination.
The exam was introduced by the Monetary Authority of Singapore (MAS) last year to raise competency standards in the stockbroking industry.
One reason for the move was that many unsophisticated investors were burnt by complex investment products during the global financial crisis.
The consensus among industry insiders is that as many as half of the 4,000-strong sales force of dealers and remisiers serving investors in the stock market may not have cleared the hurdle yet.
The confusion over what might happen after the June 30 deadline is compounded by conflicting notifications sent out by the various brokerages to their remisiers.
One brokerage apparently told remisiers who have not passed the exam that if their clients trade SIPs on the Internet, they may not get the brokerage fee for the transactions. But they would still be liable for any losses incurred by the clients on the trades.
The remisiers also face the risk of losing clients trading SIPs who may be re-assigned to dealers who have passed the exam.
Amid the confusion, remisiers are up in arms over what they perceive as an attempt by some brokerages to capitalise on their plight. Mr Jimmy Ho, president of the Society of Remisiers (Singapore), said: "For any broking house to force a remisier to transfer a client to someone else because he has not passed an exam is morally and contractually wrong. These clients were sourced, nurtured and brought into the firm by the remisier."
Older remisiers, who have not taken exams for years, are aggrieved. "They are driving us out. They want new blood in the business and we cannot pass the exam. This is killing two birds with one stone," said remisier Jan Lam, 55.
But some brokerage bosses told The Straits Times they are working on an industry-wide solution to tackle the challenges thrown up by the new MAS requirement.
UOB Kay Hian senior executive director Esmond Choo said: "The industry is looking to resolve the problem, like setting up a central desk to answer clients' queries relating to SIP trades."
Issues such as the compensation a remisier may get from his clients' SIP trades even though he may not have passed the exam are also being thrashed out.
"There will be discussions with various parties, including the regulators," he said.
CIMB Securities chief executive Carol Fong also allayed the fears of her affected remisiers.
She said: "No decision has been made on client ownership and commission sharing. In making the decision, we will engage them on their views and regulatory position, after we have discussions with other industry participants.
At Maybank Kim Eng, chief executive Tan Pei-San said that while remisiers who have not passed Module 6A by the stipulated date would not get commissions from their clients' SIP trades, they will not be required to bear the risk for such trades.
engyeow@sph.com.sg
- wong chee tat :)
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